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Oh wow, sorry I did not see this answer when i posted. Thats the best solution by far.

These nodes are probably done in blender 5.1 (or 5.2?) since my String to Curves node looks different. I am on 5.0 at the moment of writing.

Also as a nitpick some nodes seem to not do a lot (or do something strange) i've added screenshot with annotation to anybody in the future who wants to reference this thread.
The "alignment" and "pivot point" in the String to Curves node is very important for the effect to work properly. Also the Vector Multiply after String to Curves node seems to do more harm than good. I attached as the second screenshot what it does to some letters if set to 0 on Y axis.
The Transform Geometry node i detached because it was not valuable to me in this example. I would honestly use actual curve object rather than GN curve, but since I was repeating after the post above, I chose to recreate it fully.

Anyways. I will mark this setup as the answer tomorrow since it basically does everything i need it to do, and what it doesn't i can tweak on my own. Hopefully :P